SAC Capital Throws Itself Upon The Mercy Of The Court

They’ve changed their name. They’ve given back the money. They’ve cried it out atop the fleeces. What other lessons could possibly be learned? Don’t make Steve Cohen walk up and down Park Avenue wearing a sandwich board that reads “I employ insider traders” on the front and “LOTS of ‘em” on the back.1

SAC Capital Advisors LP urged a federal judge to approve its record $1.8 billion insider-trading settlement with the government, saying the firm is “deeply remorseful” for the illegal acts of its employees. SAC lawyer Martin Klotz asked U.S. District Judge Laura Taylor Swain in a two-page letter yesterday to sign off on the agreement, which also calls for the firm to close its investment advisory business. A sentencing hearing before Swain is scheduled for April 10 in Manhattan. “The defendants are deeply remorseful for the misconduct of each of the individuals who broke the law while employed by them,” Klotz wrote. “Even one person crossing the line into illegal behavior is unacceptable. The defendants are chastened by this experience, but are determined to learn from it.”

1. But now that I think of it, actual hypothetical scenario for you: What if the government went to Cohen and said, “Here it is. No fine, you can manage outside money, and we’ll never bother you again, but for an entire week you have to parade through Midtown with the aforementioned sandwich board, as a deterrent, a la this. Does he do it? Remember, Steve Cohen is a proud man.↩

12326212 Responseshttp%3A%2F%2Fdealbreaker.com%2F2014%2F03%2Fsac-capital-throws-itself-upon-the-mercy-of-the-court%2FSAC+Capital+Throws+Itself+Upon+The+Mercy+Of+The+Court2014-03-28+16%3A42%3A49Bess+Levinhttp%3A%2F%2Fdealbreaker.com%2F%3Fp%3D123262 to “SAC Capital Throws Itself Upon The Mercy Of The Court”

2003 —– F.S.A. — States rogues operating in Pictet's London office. Ivan Pictet states that documents were forgeries but were later proved to be genuine in the British Courts. He had documents destroyed in their London office –hoping to hide the crimes.

2007 .- – – The Securities and Exchange Surveillance issued a recommendation that the Prime Minister and The Commissioner of the FSA to take disciplinary action against Pictet Asset Management – Japan Ltd.

2008 .– Dec. – Pictet Bank state – " We have never chosen any funds linked to Madoff.

2012 — – June. — Published in Anglo INFO .Geneva.— USA Trust Fund Investors were sent false and fraudulent documents by Pictet Bank in order to collect large fees. ( Like MADOFF)
Even after the SEC in the USA uncovered the fraud Pictet continued to charge fees and drain whatever was left in these accounts. Estimated that $90 million lost in this Pictet Ponzi scheme.

2012 – – – July. — De – Spiegel. — states – Pictet Bank uses a letterbox company in Panama and a tax loophole involving investments in London to gain German millionaires as clients.

Ironically the Pictet & Cie.Bank partners are bigger criminals than the criminals who have accounts in the their bank.

The bank is now seeking to re-structure — to cut the partners liability – hoping to off load their decades of criminal responsibilty – and move onwards to carry out new crimes. The Germans are right — the bankers should go to prison if found guilty of financial crimes..

Both Ivan Pictet and Monty Raphael.Q.C. conspired to withhold crucial documents requested by the High Court – the FSA — and the Police Fraud Squad.

Written Parliamentary Questions received by the table office ..

(1) To ask the secretary of state what steps he is taking to ensure that Swiss Banks such as Pictet & Cie do not evade criminal prosecution under EU law even when the illegal act is committed by a London based subsidiary.

(2)To ask the secretary of state what steps he is taking to protect the rights of UK citizens who seek redress following criminal activities by Swiss banks with subsidiary offices located in London.

Quote. ( America’s Top Lawyer .)
You can be the richest man in the world with the best lawyers that money can buy but you cannot win against a man who has got nothing left to lose and is telling the truth.

*** We note that there has been a sharp increase in Peters & Peters partners leaving to go to other practices. Moving does not alleviate them of any responsibility from any illegalities that may have occurred at Peters & Peters during their partnership tenure. From 1999 onwards.

The consensus of opinion is the Pictet & Cie should be prosecuted , and that their U.K. banking licence should be taken away.

Their Solicitors at Peters & Peters .London “ struck off and prosecuted..”

SAC

Mary Jo White was the top federal prosecutor in New York City during Bill Bratton’s first run as the Big Apple’s top cop, and she learned a few lessons from his “broken windows” theory: Clean a place up a little, and throw the fucking book at the street urchins who are messing things up with […]

When was the last time you took a second look at your student loans? If you’re like most borrowers, you probably try hard not to think about them. After all, dwelling on your debt isn’t going to make it go away any faster. Or is it?